FY2024 EPS Estimates for McEwen Mining Increased by Analyst

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) – Analysts at HC Wainwright lifted their FY2024 EPS estimates for McEwen Mining in a research report issued on Thursday, November 7th. HC Wainwright analyst H. Ihle now anticipates that the basic materials company will post earnings of ($0.60) per share for the year, up from their prior estimate of ($0.88). HC Wainwright has a “Buy” rating and a $19.00 price objective on the stock. The consensus estimate for McEwen Mining’s current full-year earnings is ($0.68) per share. HC Wainwright also issued estimates for McEwen Mining’s FY2025 earnings at ($0.15) EPS.

Several other research firms have also recently commented on MUX. StockNews.com upgraded McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm reduced their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a report on Thursday, November 7th.

McEwen Mining Stock Performance

Shares of McEwen Mining stock opened at $8.34 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 1.21. The firm has a market cap of $441.35 million, a price-to-earnings ratio of 3.81 and a beta of 1.43. The stock’s 50-day moving average is $9.55 and its 200-day moving average is $9.90. McEwen Mining has a one year low of $5.92 and a one year high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $52.25 million during the quarter, compared to the consensus estimate of $48.60 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. During the same period in the prior year, the firm posted ($0.39) earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Fifth Third Bancorp bought a new position in McEwen Mining during the second quarter worth about $32,000. Vanguard Group Inc. lifted its position in shares of McEwen Mining by 1.0% in the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock valued at $6,074,000 after buying an additional 6,082 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of McEwen Mining during the 2nd quarter worth approximately $78,000. Private Advisor Group LLC acquired a new position in shares of McEwen Mining during the 3rd quarter worth approximately $99,000. Finally, Rathbones Group PLC bought a new stake in McEwen Mining in the 2nd quarter valued at $101,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.

About McEwen Mining

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.